Olympus XZ-1 takes on Canon S95 and Panasonic LX5

First shown at Photokina in 2010, Olympus has made the XZ-1 prototype a reality at this year’s CES in Las Vegas.

The new camera, the Olympus XZ-1, will become Olympus’ new flagship model offering consumers something that sits just under the company’s Micro Four Thirds range and its regular compact models.

“The XZ-1 is ideal for camera-savvy amateurs and professional photographers looking for a second camera,” says Olympus and they would be right - our quick play so far shows us that this has a lot going for it when it comes to taking on the Panasonic LX5 and the Canon S95.

“The XZ-1 is the first compact camera to come with a lens from Zuiko, renowned as a leading manufacturer of the high-end optics that used to be available only in SLRs. It is also compatible with an ever-growing range of dedicated Olympus PEN accessories for mirrorless cameras.”

With that in mind, users will be able to add an additional external flash, electronic viewfinder or external stereo microphone, with more accessories still to come say Olympus.

The XZ-1 comes in a matt black or white lacquered body with a large 3-inch OLED screen and the sharp looks to match its professional spec. It will be available from late January 2011 for £399.

Like the Canon S95, the Olympus XZ-1 will come with a barrel ring on the front of the camera that allows you to have further control over the shutter speed, aperture and other areas of the camera.

Special options include shooting in RAW mode, multi-aspect ratio and six special effect Art Filters that even work in HD Movie mode. With super macro, wireless flash control and high-speed AF Tracking.

Stuart has been a tech journalist since 1998 and written for a number of publications around the world. Regularly turning up on television, radio and in newspapers, Stuart has played with virtually every gadget available.